Financial Services

SEC investigation: When the former CFO of Countrywide Financial Corporation was involved in a high-profile SEC investigation and lawsuit, our lawyers achieved a rare outcome when the SEC charged fraud, but agreed to a negligence-based settlement

Acquisition: We are counsel to Banco Santander in its US$4.1 billion acquisition of Bank Zachodni WBK from Allied Irish Banks

Refinancing: In the CEE region, advising Deutsche Pfandbriefbank on the €300 million refinancing of a real estate portfolio of office buildings across Poland, the Czech Republic, Hungary and Romania

Personal Properties Securities Act (2009) (Cth) (PPSA) initiative: With a banking client we initiated a program of workshops for their clients on the potential impact of the new PPSA regime in Australia. The workshops were targeted by identifying those bank clients likely to be impacted, such as manufacturers. Along with representatives of the bank, we provided practical insights into how their businesses would be affected.

Foreign Account Tax Compliance Act (FATCA): Major global banks will be impacted by the operation of FATCA. Our US practice has been advising both US and ex-US clients and lobbying on behalf of affected parties. Our Australian tax practice and finance partners have worked with the Australian Banking Association to assist in the understanding of the likely impact of FATCA on Australian banks and providing insights as to how some of the more onerous aspects of the regime might be ameliorated.

Personal Property Securities Act (PPSA): We contributed to and made appearances before the US Senate Committee on the PPSA, including making a number of written and oral presentations. During this process, we identified specific issues affecting asset and structured finance providers. We made representations and had discussions with the Attorney General's office regarding how the legislation might be amended to take account of potential unintended consequences. We were also part of an industry working group on the impact of PPSA.

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DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world.

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DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world.